Dhaka, March 17 -- The Cabinet on Tuesday approved Bangladesh's proposal to join the "Investment Facilitation for Development Agreement (IFDA)" under the plurilateral Joint Statement Initiative of the World Trade Organization (WTO).

The decision was made at a Cabinet meeting held at the Secretariat, chaired by Prime Minister Tarique Rahman. Cabinet Secretary Nasimul Ghani told reporters that the agreement aims to facilitate foreign direct investment (FDI) in Bangladesh.

Prof Yunus seeks WTO support for Bangladesh's smooth LDC graduation

He said the pact does not impose any new obligations regarding market access or investor-state dispute settlement. Instead, it seeks to enhance transparency in investment procedures, simplify registrati...